NEW YORK CITY—Theory Holdings, LLC, a prominent contemporary fashion apparel and accessory design firm, has signed a long-term lease for 79,000 square feet at the newly renamed 2 Gansevoort St. office building owned by the William Kaufman Organization in the Meat Packing District.

The new tenant will occupy a portion of the ground floor and the entire second, third and fourth floors of the building situated at the intersection of West 13th, Horatio and Gansevoort streets in the Greenwich Village Historic District at 320 West 13th St.

Theory Holdings expects to relocate from its current quarters at 40 Gansevoort St. in the first quarter of 2015. Founded in 1997 by Andrew Rosen and Elie Tahari, Theory is a contemporary fashion label that sells men's and women's clothes and accessories. The company maintains 16 retail stores and 13 outlet stores in the United States. The label is sold at major high-end retailers such as Bloomingdale's, Lord & Taylor, Nordstrom, Saks Fifth Avenue, Neiman Marcus and Barney's New York. Theory is owned by Fast Retailing of Japan.

2 Gansevoort was built in 1912 and originally designed as a warehouse and trade school and was acquired by the William Kaufman Organization in 1948. As the owner/developer's first purchase in the Meatpacking District, it was a notable addition to the company's portfolio of ground-up Class A buildings, which currently includes 777 Third Ave., 767 Third Ave., 437 Madison Ave., 747 Third Ave., and 77 Water St.

Michael Lenchner, vice president and director of leasing for Sage Realty Corp., the leasing and management division of the William Kaufman Organization, says the transaction with Theory comes on the heels of an ongoing capital improvement program that is revitalizing the landmarked building at 2 Gansevoort. The program has included renovations and upgrades to the building's lobby, a complete window replacement, elevators, access management system and main entrance.

“Combining style and state-of-the-art features, moving to 2 Gansevoort allows Theory to showcase their contemporary brand in a building with history and character while maintaining their presence in the Meatpacking District,” says Lenchner. “The building's prized location along the Silicon Alley corridor places it at the epicenter of New York City's booming creative and technology hub.”

Brian Waterman and Lance Korman of Newmark Grubb Knight Frank represented the tenant in the long-term transaction, while Lenchner represented the building's ownership in-house.